Evansville-based United Leasing & Finance has acquired New York-based Access Commercial Capital. Financial details of the transaction were not disclosed, however United says the deal will create about 20 jobs over the next several months.
Martha Ahlers, chief operating officer of United, says Access currently has seven employees who are now under the United banner. Access provides direct and indirect loans and leases on new and used specialty vehicles and commercial equipment for small and medium-sized businesses in the equipment and transportation industries throughout North America.
Ahlers calls the the deal a "wonderful strategic acquisition for United."
"Not only do the various asset classes they finance fit perfectly with our existing portfolio but having a New York office extends our brand further into the east coast and will allow us to better serve both new and existing customers," said Ahlers. "The Access platform will provide originations up to $100 million dollars annually and will help United achieve its goals and plans for the next five years."
Edward Kaye, managing member of Access, says the acquisition will support the company’s growth and profitability for the long term.